FreightCar America (NASDAQ:RAIL) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a hold rating in a research report released on Wednesday morning.

Separately, Northcoast Research assumed coverage on shares of FreightCar America in a research note on Thursday, May 1st. They set a “buy” rating and a $9.00 target price for the company.

FreightCar America Stock Down 10.4 %

Shares of FreightCar America stock opened at $6.10 on Wednesday. The company has a market cap of $116.25 million, a PE ratio of -1.44 and a beta of 1.73. The business has a 50 day moving average of $6.00 and a 200 day moving average of $9.26. FreightCar America has a 52 week low of $3.02 and a 52 week high of $16.10.

FreightCar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The firm had revenue of $137.70 million during the quarter, compared to analysts’ expectations of $152.02 million. On average, research analysts anticipate that FreightCar America will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On FreightCar America

A number of hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in shares of FreightCar America in the 4th quarter worth $2,711,000. Marshall Wace LLP purchased a new stake in shares of FreightCar America during the fourth quarter valued at $2,399,000. Arrowstreet Capital Limited Partnership increased its holdings in FreightCar America by 125.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock worth $3,486,000 after buying an additional 216,307 shares in the last quarter. Renaissance Technologies LLC raised its position in FreightCar America by 128.5% in the 4th quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock worth $2,529,000 after buying an additional 158,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in FreightCar America by 90.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after acquiring an additional 89,471 shares during the period. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.